When will traditional real estate catch up to the modern world? A professional services occupier view

Abstract

In the changing world of artificial intelligence (AI), robotics process automation (RPA) and the gig economy, is the current approach to buildings and space still relevant? The workplace approach needs to digitise, but are we considering, as our businesses digitise, increasingly adopting contingent workers and alliances, that the principle of an office also needs to change? Businesses now need a wider reach than their own direct employees and buildings that curate and provide experiences, interactions and relationships beyond their sector will be those that truly enhance business. This is one of the underlying forces driving the coworking revolution, but when does it enter the office as opposed to being a separate facility? Increased flexibility also means everything in a long lease will no longer make business sense for many. This paper explores the driving forces changing the current and future world of office buildings.